Short
BTC close to a main reversal zone
In this chart we can see my interpretation of the wave count, and volume action we've witnessed during the past few days.
If the structure holds, I expect to see a low of 390-414, before resuming the action to the up side.
My position has been bearish for some time now, but as we approach the lowest lows, price action develops a loss of momentum, which indicates bears are getting tired of pushing, and masked bulls are starting to pick up what they consider to be cheap coins.
I'll update the chart as we go, for now I leave you with a tentative pitchfork channel breach, and a 5-0 bullish pattern.
If the structure holds, I expect to see a low of 390-414, before resuming the action to the up side.
My position has been bearish for some time now, but as we approach the lowest lows, price action develops a loss of momentum, which indicates bears are getting tired of pushing, and masked bulls are starting to pick up what they consider to be cheap coins.
I'll update the chart as we go, for now I leave you with a tentative pitchfork channel breach, and a 5-0 bullish pattern.
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